Reporting Levels:
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Filing Group
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Control Center Configurable Options:
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Dataset
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Unit
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Source Data:
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All Data Review Screens
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Available Views:
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N/A
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The AMT Estimator report for Provision and Compliance (used for Estimated Payments) datasets displays the Alternative Minimum Tax (AMT) calculation. The report only displays when the AMT Automation is selected in the Unit Details screen. There are two approaches to computing the AMT - Reporting Currency or Local Currency. Be sure to review the calculation to ensure that the proper result is computed.
Provision Items
• | Current Federal Tax Expense |
• | Deferred Federal Tax Expense |
• | Deferred Tax Asset/Liability |
Report Views
• | Defaults to the filing group level calculation of the report details. |
Line by Line - Local Currency Approach
• | Alternative Minimum Taxable Income (AMTI ): Sum of Taxable Income (Before NOL Reclass) and AMT Pre-Tax Adjustments. |
• | AMT Tax (Pre-Credits): AMTI times AMT Tax Rate. |
• | AMT Tax: Sum of AMT Tax (Pre-Credits) and AMT Credits. |
• | Cash Provision (Before NOL, AMT Reclass): Tax Provision Report - Cash Provision line minus the NOL Reclass and any AMT reclass in the After Tax Temporary Difference line. |
• | AMT Reclass: If the AMT Tax line is greater than the Cash Provision (Before NOL, AMT Reclass) line, the difference is recorded. It is posted to the tax provision as a tax adjustment increasing the provision, and as a reclass to an After Tax Temporary Difference. |
Column by Column
• | A single column displays the calculation for the unit of the filing group. |
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